Amazon India clocks 90% growth in fashion segment for first half
Amazon is making inroads in the fashion segment in India currently dominated by Flipkart and its subsidiaries Myntra, Jabong. It registered 90% growth in the category in the first quarter, according to a top company official.
E-commerce firms are battling it out in the fashion category which is a major contributor in terms of revenue and sales. Amazon scored big in the recently concluded Great Indian sale event witnessing a 5x growth in the fashion category as clothing and accessories were the most sold items during the four day sale event.
Amazon India clocked 90% growth in sales in the first half of the year mostly due to the expansion of its brand portfolio with as many as 200 brands on boarded in the last 18 months.
"We have been working with top brands over the last year to make sure consumers have the widest possible selection on our platform. Using data, we have told brands what sells more in different parts of the country. This has helped us increase our inventory of high-selling products. Much like last year, we are striking deals where brands will unveil their latest collections on Amazon in December while other market players will get access to it by February or March,” Arun Sirdeshmukh, Amazon Fashion head told the Times of India
Amazon has introduced 50 brands this year and has seen multiple segments in fashion growing over 200% on a monthly basis. The company is rapidly expanding its brand portfolio to dethrone Flipkart from the number one position which currently holds a total market share of 70% in India’s online fashion market.
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